Brokerage accounts converted
TD Ameritrade Holding (AMTD) announced on February 28, 2018, that it has converted the brokerage accounts of Scottrade. With this successful execution, TD Ameritrade’s brokerage accounts have increased, which could positively impact the company’s revenues moving forward in 2018. A rise in brokerage accounts would, in turn, lead to an increase in trading activities.
TD Ameritrade management had positive views about the conversion. According to Tim Hockey, AMTD’s CEO and president, representatives of AMTD and Scottrade have worked effectively for a smooth execution of this process.
Services for clients
According to AMTD management, Scottrade clients have full support if they encounter any problems. AMTD has improved its technology and client services to reduce any problems. Scottrade clients can use the TD Ameritrade portal to gain access to their accounts by using their Scottrade credentials.
AMTD’s free cash flow yield was 1.4% on a last-12-month basis. Peers PNC Financial Services (PNC), Morgan Stanley (MS), and Gain Capital Holdings (GCAP) have cash flow yields of 4.8%, 4.8%, and 1.5%, respectively, on the same basis.